Financing the NMD requires a macroeconomic framework aligned with economic and social development objectives

The financing needs of the new development model (NMD) require a macroeconomic framework closely aligned with the objectives of economic and social development, underlined, Friday in Rabat, the president of the Special Commission on the Development Model (CSMD), Chakib Benmoussa. .

This framework is available through macroeconomic management combining agility and flexibility in the short to medium term and exploiting all possible margins of action, while remaining vigilant on the sustainability of the macroeconomic framework, explained Chakib Benmoussa, who spoke at the 14th Symposium. international public finance committee (CIFP), held at the initiative of the Ministry of the Economy and Finance (General Treasury of the Kingdom – TGR), in partnership with the Association for the International Public Finance Foundation (FONDAFIP), under the theme “the major challenges of public finances of the 21st century”. this involves putting in place macroeconomic policies in the service of strong, healthy growth with diversified resources, creating added value and jobs, as well as macroeconomic balances reinforced by the internal performance of the NMD, in particular the capacity to resilience to exogenous shocks, he explained.

The ambition defined by the NMD, the objectives which accompany it, its strategic axes and the bets for the future require resources that should be ensured of their mobilization in order to implement the projects of this model, a noted Chakib Benmoussa, noting that the major reforms have been costed, which has made it possible to have the necessary resources to be able to initiate projects and ensure that this NMD can be deployed in a coherent manner. The CSMD also reviewed several dimensions, in particular the dimension of enlargement of the budgetary space which refers to the realization of a reform which allows more equity, to regulate the tax expenditures as well as to readjust the taxation, a-t he called back.

For his part, Jacques de Larosiere, former Governor of the Banque de France, former Director General of the International Monetary Fund, former President of the European Bank for Reconstruction and Development, highlighted the importance of the theme chosen for this colloquium. It is about stabilizing the financial system, employing young people and providing them with quality education, in particular by reducing the structural costs of companies to enable them to recruit, according to him. It is also a question of supporting long-term investment and preparing ecological transformations to protect the planet from the consequences of global warming, he added Jacques de Larosiere.

On the menu of the said conference, which runs until November 20, there are also three panels that revolve around several axes. The first axis concerns the strategies and methods of financing issues relating to social fragility, in particular old age, retirement and people with disabilities, while the second addresses the role of public authorities in the face of economic challenges, imperatives of growth, demographic transition and issues related to territorial inequalities.

Regarding the third axis, it deals with strategic public policies in relation to budget programming, debt issues, digital transition, as well as the evaluation of public policies.



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